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Hanover pharmaceutical company acquired
A Pittsburgh-based pharmaceutical company has acquired Hanover-based pain medicine manufacturer, Fathom Pharma.
Fathom is a drug delivery company that produces long-acting treatments for chronic pain.
The company joins Consegna Pharma, a drug manufacturer leveraging a number of medicines to combat the opioid epidemic.
Consegna’s products rely on long-acting injectable (LAI) drug delivery systems that can deliver a drug slowly over months.
“This acquisition is highly complementary to our existing opioid strategy and adds high quality growth potential,” said Larry Zana, president and CEO. “We are delighted to welcome the Fathom team to Consegna.”
As a result of the acquisition, Fathom is now a wholly owned subsidiary of Consegna. The companies have yet to disclose the details of the deal.
“Fathom welcomes joining Consegna, accelerating the clinical development of our combined LAI portfolio focused on several aspects of pain signaling pathways,” said Darren Wolfe, CEO, Fathom. “Across the globe, LAIs are changing the way medicines are delivered in key therapeutic areas and we are excited to help accelerate this transition.”
